Oracle extends cloud offerings

• Oracle (NYSE:ORCL) is expanding its cloud-computing offerings, bringing the company into more direct competition with Amazon Web Services.
• "We're prepared to compete with Amazon on price," said Executive Chairman Larry Ellison in a webcast, after announcing that Oracle would offer online storage and capability for customers to run their applications entirely in the cloud.
• The company's cloud business is growing quickly, running at a rate of about $2.3B a year in revenue.